Former Nigerian Vice President Atiku Abubakar has sold his stake in Integrated Logistics Services Limited (Intels), accusing the Buhari administration of seeking to undermine the company.
PDP spokesman and 2019 presidential candidate Paul Ibe made the announcement in a statement issued on Monday.
He said Atiku was forced to take action because the government of President Muhammadu Buhari had “been pressured to break the company” since 2015.
Atiku co-founded Intels with an Italian named Gabriele Volpi, who specializes in oil and gas services.
“Atiku has sold his shares of Intels in the past but that has been the case since 2015 because this government’s goal is to break the company that provides employment to thousands of Nigerians only for political reasons,” the statement said.
“He has sold his shares of Intels and diverted his money to other sectors of the economy for profit and job creation. Politics and business should be differentiated.”
In 2010, the company signed an agreement with the Nigerian Ports Authority (NPA), which will collect taxes on behalf of the agency for some of its operations.
But in 2017 Justice Minister Abubakar Malami said the agreement was illegal and the government rescinded it.
The company has also been accused of tax evasion and failure to pay $ 48 million to the Nigerian government.